Syrian Petroleum Company has been aggressive in trying to help revive the company's energy sector. Photo: SanaSyrian Petroleum Company has been aggressive in trying to help revive the company's energy sector. Photo: SanaAgreement involves Syrian billionaire Ayman Al Asfari, state media reportsThe NationalJune 16, 2026
Syria awards a gas development deal to ConocoPhillips and Novaterra linked to Syrian-British billionaire Ayman Al Asfari, aiming to revive production.
The agreement with the Syrian Petroleum Company targets onshore gas, boosting output from existing fields, modernising infrastructure and improving efficiency to industry standards.
ConocoPhillips previously operated in the country; Mr Asfari formerly worked in the sector under the previous regime and later supported opposition figures.
US sanctions were lifted at the end of last year, spurring foreign interest as the new government under Ahmad Al Shara seeks reconstruction and investment.
